As third line of defense, Internal Audit is testing the operating effectiveness of control activities embedded in business operations. These tests are formalized in audit reports stored in the GRC Suite and linked to processes.

Grace Connect Internal Audit provides a centrally managed repository of audit reports and their related audit findings and recommendations.

In conjunction with the powerful and dynamic Grace Connect Task tracking module, users are able to monitor the effective implementation of audit recommendations.

Furthermore, the Grace Connect Event tracker allows to anticipate all upcoming delivery due dates and minimize overdue Audit Findings.

Finally, Graphs and KPI’s are designed to provide a real-time monitoring of Audit Findings across the entire organization.

Audit reports stored in the GRC Suite are available to users and management (with restricted access rights), so that they could consult audit observations, findings, and track the progress on closing audit recommendations at any time during the life-cycle of the audit and during the implementation of remediation measures.

Monitoring of audit recommendations is available in the GRC Suite.
A dedicated set of KPI’s and graphs is available to users and management to ensure a comprehensive view on all findings.

When clicking on KPI’s or graphs, GRC Suite users will automatically filter the list of all related objects, thus enabling faster research and analysis. Because remediation of audit findings with high importance is critical for an organization, the GRC Suite will post an entry in the Events Calendar module, enabling user notifications to be issued ahead of the agreed due dates.